When economies are in a recession, IT is the most efficient means of doing business. It takes the least amount of money to create the greatest amount of wealth. It may initially take a hit, like everything else- but it will not be trimmed down. If a company trims down IT, it means they are no longer a company. They are in a death spiral. See AOL for an example of this.
As far as you getting out of college with no experience. I'll tell you what use your college degree has in IT. That little check mark at the bottom of the page asking where you went to school. That's the one. And only low level virgin jobs ask for that. If you have 15 years of experience, nobody gives a flying crap if you went to college. And they ask for your CV, which is not the fill in the blanks kind of resume.
At the place where I work, we cannot hire people like you. Our systems are too important to the planet. But, have hope. The FBI/CIA has just opened up 3000 jobs, and they may have an entry level opening. I know they like to have people with college degrees there, and little else. So I would honestly give that a shot at this time. You will have to move to find a job. Just make that a given for the next 10 years. You will be moving.
I wish you the best of luck. Please don't think a degree means anything. It has no bearing on anyone I have ever hired for the last 10 years. It's just a road block if you don't have it AND have no experience.